RATE Group | If History Rhymes, Bitcoin Will Soon Rocket Into a Full-Blown Bull Run
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If History Rhymes, Bitcoin Will Soon Rocket Into a Full-Blown Bull Run

27 Apr If History Rhymes, Bitcoin Will Soon Rocket Into a Full-Blown Bull Run

Posted at 00:07h in Bitcoin News by

Bitcoin has performed extremely well over the past few days, rallying from last week’s lows at $6,800 to a high of $7,800 on April 23rd. It was a move that liquidated dozens of millions of dollars worth of short positions and convinced analysts to put credence in the BTC bull case.

According to a popular crypto trader, the ongoing rally is eerily reminiscent to price action seen in February 2019, which marked the start of that year’s bull run that took Bitcoin from the $3,000s to $14,000 in under five months’ time.

If History Rhymes, a Bitcoin Bull Run Is Near

Although Bitcoin’s consolidation over the past three days has convinced analysts that the cryptocurrency is establishing a local top, crypto trader “Kaleo” is convinced that it is actually a sign of strength.

Sharing the two charts that can be seen below, the trader remarked that there are eerie similarities between February’s breakout from ~$3,300 to $4,000 and the ongoing move from the low-$7,000s to the…

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